Agmt10 Musson Theatrical, Inc. - Laserfiche WebLink

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... '. ----- 2~ GREA1AMERICAN Bond No. 3061226 INSURANCE COMPANIES CINCINNATI, OHIO PAYMENT BOND KNOW ALL MEN BY THESE PRESENTS, That we, Musson Theatrical, Inc. as Principal, and the GREAT AMERICAN INSURANCE COMPANY, a corporation organized under the laws of the State of Ohio and duly authorized to transact business in the State of California as Surety, are held and firmly bound unto City of Redwood City as Obligee in the sum of Sixteen thousand nine hundred ninety nine and NO/100 Dollars, ($ 16, 999 . 00 ), for the payment whereof well and truly to be made the Principal and Surety bind themselves, their heirs, executors, administrators, successors, and assigns, jointly and severally these, firmly by presents. SIGNED, sealed and dated this 25th day of May 2010 WHEREAS, the Principal and the Obligee have entered into a written contract, hereinafter called the Contract, a copy of which is or may be attached hereto, dated the day of , for Main Drape Replacement at Veterans Memorial Senior Center NOW, Therefore, the condition of the foregoing obligation is such that if the Principal shall promptly make payment to all persons who have contracts directly with the Principal supplying labor and material in the prosecution of the work provided for in said contract, and in all duly authorized modifications of said contract that may hereafter be made, then this obligation shall be void; otherwise it shall remain in force. PROVIDED, HOWEVER, it shall be a condition precedent to any right of recovery hereunder that, in event of any default on the part of the Principal, a written statement of the particular facts showing the date and nature of such default shall be immediately given to the Surety and shall be forwarded by registered mail to the Surety at its Administrative Office, 580 Walnut Street, Cincinnati, Ohio 45202. AND PROVIDED FURTHER, that no action, suit or proceeding, except as hereinafter set forth, shall be had or maintained against the Surety on this instrument unless the same be brought or instituted and process served upon the Surety within twelve months after completion of the work mentioned in said contract, whether such work be completed by the Principal, Surety or Obligee; but if there is any maintenance or guarantee period provided in the contract for which said Surety is liable, an action for maintenance may be brought within six months from the expiration of the maintenance period, but not afterwards. Musson Theatrical, Inc. Principal GREA~A ERICANINSURANCEC?MPANY , ~ By: ?/26s/R/e4/j- Mark C. Johnson Attorney-in-fact F.9609E (8!97)